A key roadblock to mass Web3 adoption is onboarding. People want to get into Web3 and crypto, but they don’t know how. Seed phrases, private keys, smart contract transactions, technical knowledge and crypto jargon are massive barriers to Web3 entry.
With Keypom, that’s about to change. Keypom is a new zero friction onboarding protocol with a companion no-code app, built on Near.
Now users, regardless of their background, can experience the value of Near’s blockchain technology whether or not they have a wallet. Envisioned as a community-driven, public good — or a public utility — Keypom’s APIs (the Keypom Protocol) will be completely fee-free. The Keypom App will also allow non-developers to take full advantage of Keypom’s powerful wallet-less onboarding experiences.
How Keypom’s frictionless onboarding works
Debuting at NEARCON 2022, Keypom’s onboarding solution is entirely on-chain and non-custodial. It’s run completely on the Near blockchain via Near smart contracts — not on any centralized databases.
Keypom allows Near and Web3 to function more like Web2, where developers and end-users alike can use applications without Web3’s usually confusing, tedious, time-consuming onboarding. For those looking to explore this technology, Keypom will offer an App, which is currently set to release at ETH Denver 2023. This app will give users and organizations the ability to easily create links to invite users to experience aspects of the Near blockchain without having to set up a wallet first.
On other blockchains, users are commonly onboarded with pre-created, pre-loaded wallets. Keypom operates on the basis of Near’s unique access key model, which allows for much more flexibility in the end user-experience.
With Keypom, users are given a special type of access key that can be used to experience a crypto application and later be turned into a wallet. This key can be embedded within a simple Web2 style link that, once clicked, allows users to enter into a crypto experience, entirely on-chain and non-custodially.
Currently, Keypom experiences include receiving $NEAR, NFTs, Tickets to an event, or even dropping the user into a trial account with Near tokens to spend on a preset selection of apps. Once a user has enjoyed an experience with a Keypom link, they can upgrade to a full account and enjoy the entire Near ecosystem.
For organizations that have experienced Keypom and choose to develop on top of their protocol, the Keypom SDK and Wallet Selector plugin allows for a seamless integration of Keypom’s technology into their own apps. Companies will be able to customize every aspect of the user experience to tailor their needs, all while using carefully designed plug-and-play libraries meant to abstract complicated processes for the developer.
Low-cost, customizable linkdrops
Typically, linkdrops have been used to onboard developers and end-users looking to build on Near. The cost of creating 1,000 accounts via traditional means has been approximately 1,003 $NEAR. With Keypom, the costs for onboarding 1,000 users can fall to about 3.5 $NEAR.
“We imagine a world where decentralized applications use the Keypom Protocol to create truly immersive user experiences and specialize in specific use-cases spanning across the entire ecosystem,” says Keypom’s Ben Kurrek. “Companies can build anything from event ticketing to subscription-based payments and multi-sig tooling. While the Keypom App would still allow for users to experience these use-cases, it would be at a much smaller scope.”
Keypom can be used, for instance, to automatically register users into a Decentralized Autonomous Organization (DAO) as part of the onboarding process. Another use case is for events ticketing. With Keypom, users wouldn’t need a wallet to enter an event, and would also be able to receive a POAP (Proof of Attendance Protocol) NFT.
Perhaps one of the most powerful use cases is the ability for applications to use the Keypom protocol to give their users a free trial. After choosing an account name, the user is instantly signed in and can begin exploring and experiencing the app. Just like with gift cards and other vouchers, the funds can only be used on that dApp thus preventing the possibility for a rug to occur. Once the trial is over, the user can onboard fully with the added option of a payback condition for the funds that the dApp fronted.
In this new model, Keypom introduces a paradigm shift in Web3 where users experience crypto first and only focus on onboarding once they’ve seen the benefit and gained value.
“We leave it to those building atop the Keypom Protocol to specialize and create applications however they see fit, such as charging custom fees,” says Keypom’s Matt Lockyer. “We’ve created a world where there are no limits and we simply provide the technology that unlocks these experiences.”
For a full explanation on what is possible with Keypom’s customizable linkdrops, check out the Keypom Protocol README. Keypom developer documentation can be found here and Keypom Executive Summary here.
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